Shares of Rite Aid ended Monday’s session higher after a day of highly volatile trading. The steep swings come after Rite Aid saw its price of shares tumble Friday amid reports that the drug store chain was preparing to file for bankruptcy. Shares of Rite Aid (RAD) are down more than 91% since this time last year. Friday’s plunge came after The Wall Street Journal and Bloomberg reported that Rite Aid was preparing to file for Chapter 11 bankruptcy. Rite Aid is currently about $3.3 billion in debt and has been embroiled in a legal battle for allegedly filling unlawful opioid prescriptions.

Source: CNN August 28, 2023 21:10 UTC